During his eight years in power, former President Muhammadu Buhari is accused by former presidential adviser Reno Omokri of wrecking Nigeria’s economy.
Nigeria’s debt had nearly quadrupled from 18% to 35% of GDP by the time Buhari’s term ended in May 2023.
The legislator from Daura left inflation at 22.4%.
President Bola Tinubu’s government has seen ongoing economic hardship, which has been exacerbated by the elimination of fuel subsidies and a fluctuating currency rate.
Furthermore, Omokri thinks Buhari should bear the brunt of the guilt since, in his words, he managed a criminal organization rather than a government.
Monday morning, Omokri wrote, “Buhari Destroyed The Economy,” in a post that he published on X. Tinubu is working to bring it back. That is the actual truth. Because Buhari sold our oil in advance and kept the proceeds for himself, even our oil sales are now worthless to us.
This is due to the fact that he borrowed more than all previous governments put together, to the point that even China stopped giving us money due to our high debt service to revenue ratio.
Each month, $1.5 billion was used to subsidize the exchange rate. The value of Naira was not what you observed at the time.
“Buhari misrepresented our foreign reserve status to you. Loans and purchases had been secured by such monies. To put it briefly, if Dr. Jonathan had done half of what Buhari accomplished, he would have put President Jonathan in jail. Buhari did not lead an administration. He oversaw a criminal operation that made his nephew, who had previously sold recharge cards, an overnight multibillionaire private jet pilot.
“As the opposition, we are aware of this. However, some of us are using it for political purposes since they did not win the 2023 election, and in their opinion, Nigeria must fall apart if they did not.